Issue - meetings

Report of the Cabinet Member for Finance and Capital Assets seeking approval of the Revenue and Capital Outturn 2020/21.

RESOLVED:

GENERAL FUND – REVENUE

(i)  That the General Fund revenue outturn for 2020/21 was a balanced position after transfer of £8.63M surplus to reserves, as outlined in paragraph 4 of the report and in paragraph 2 of Appendix 1 be noted;

(ii)  That the performance of individual Portfolios in managing their budgets as set out in paragraphs 3 to 6 of Appendix 1 and Annex 1.1 be noted;

(iii)  That the budget carry-forward requests totalling £6.06M as outlined in paragraph 8 of Appendix 1 and detailed in Annex 1.3 be approved;

(iv)  That the performance of the Property Investment Fund (PIF) as detailed in paragraphs 9 to 11 of Appendix 1 and Annex 1.4 be noted.

HOUSING REVENUE ACCOUNT

(v)  That the HRA revenue outturn for 2020/21 as outlined in paragraph 6 and paragraphs 21 to 23 of Appendix 1 and Annex 1.6 be noted.

CAPITAL PROGRAMME

(vi)  That the actual capital spending in 2020/21 for the General Fund was £50.20M and for the HRA was £33.97M, as outlined in paragraphs 10 and 11 in the report and detailed in paragraphs 3 to 6 of Appendix 2 be noted;

(vii)  That the capital financing in 2020/21 as shown in table 3 of Appendix 2 be noted;

(viii)  That the revised capital programme for 2020/21 to 2025/26 and its financing as summarised in paragraph 11 of Appendix 2 and detailed in Annex 2.2 be approved;

(ix)  That the latest prudential indicators for the revised capital programme as detailed in Annex 2.3 be approved.

Report of the Cabinet Member for Finance and Capital Assets  on the Revenue and Capital Outturn for 2020-21.

DECISION MADE: (CAB 21/22 31932)

On consideration of the report of the Cabinet Member for Finance and Capital Assets, Cabinet agreed the following:-

General Fund – Revenue

That Cabinet:

(i)  Noted the General Fund revenue outturn for 2020/21 is a balanced position after transfer of £8.63M surplus to reserves, as outlined in paragraph 4 and in paragraph 2 of Appendix 1. 

(ii)  Noted the performance of individual Portfolios in managing their budgets as set out in paragraphs 3 to 6 of Appendix 1 and Annex 1.1.

(iii)  Recommends Council to approve the budget carry-forward requests totalling £6.06M as outlined in paragraph 8 of Appendix 1 and detailed in Annex 1.3.

(iv)  Recommends Council to note the performance of the Property Investment Fund (PIF) as detailed in paragraphs 9 to 11 of Appendix 1 and Annex 1.4.

(v)  Noted that the level of General Fund balances at 31 March 2021 was £10.07M and the level of earmarked reserves was £134.55M as detailed in paragraph 18 and 19 of Appendix 1 and Annex 1.5.

(vi)  Noted the accounts for the Collection Fund in 2020/21 detailed in paragraphs 24 to 29 of Appendix 1 and Annex 1.7.

(vii)  Accepts the allocation of £1.011M Rough Sleeping Initiative funding for 2021/22 secured through the recent bidding round.

Housing Revenue Account

That Cabinet:

(viii)  Noted the HRA revenue outturn for 2020/21 as outlined in paragraph 6 and paragraphs 21 to 23 of Appendix 1 and Annex 1.6.

Capital Programme

That Cabinet:

(ix)  Noted the actual capital spending in 2020/21 for the General Fund was £50.20M and for the HRA was £33.97M, as outlined in paragraphs 10 and 11 below and detailed in paragraphs 3 to 6 of Appendix 2.

(x)  Noted the capital financing in 2020/21 as shown in table 3 of Appendix 2.

(xi)  Noted the revised capital programme for 2020/21 to 2025/26 and its financing as summarised in paragraph 11 of Appendix 2 and detailed in Annex 2.2.

(xii)  Noted the latest prudential indicators for the revised capital programme as detailed in Annex 2.3.